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OCERS commits $260m to infrastructure

The $13 billion Orange County (Calif.) Employees Retirement System has committed $260 million to two infrastructure funds.

OCERS committed $130 million each to Argo Infrastructure Alliance Energy North America Co-investment Fund, managed by Argo Infrastructure Partners,and BlackRock Global Renewable Power Fund II, managed by Blackrock. Both commitments are subject to additional due diligence.

Argo’s new fund is a co-investment vehicle similar to its first fund, the $500 million Argo Infrastructure Alliance Energy North America, and will focus on U.S. and Canadian energy investments. The commitment is OCERS’ first investment with Argo.

BlackRock’s new renewable power fund will invest in utility-scale wind and solar projects. BlackRock Global Renewable Power Fund II has a $1 billion equity fundraising target.